Hong Kong court orders liquidation of Chinese developer Evergrande. The shares of Chinese real estate giant Ever grande fell by more than 20% after the announcement of its liquidation on the Hong Kong Stock Exchange.
However, it is not expected that this decision will have an immediate impact on the developer's operations - including its short-term construction projects. Such a process could extend over months or even several years due to the numerous stakeholders and EverGrande subsidiaries spread across mainland China – a separate jurisdiction from Hong Kong.